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$3 Billion Bond Issue for Total

European oil producer Total SA is planning a four-part, $3 billion bond issue in the United States.

Total SA, Europe’s third-biggest oil producer, is planning to sell $3 billion of dollar-denominated bonds in four parts as soon as today, according to a person with knowledge of the transaction.

The company may sell $500 million of debt due 2016 to yield 50 basis points more than similar-maturity Treasuries, $1 billion of five-year securities at a relative yield of 75 basis points, and $1 billion of notes maturing in 2024 at a 110 basis-point spread, said the person, who asked not to be identified because terms aren’t set. It may also issue $500 million of five-year floating-rate notes to yield 57 basis points more than the three-month London interbank offered rate.

Total’s $1 billion of 2.75 percent debentures due July 2023, priced in January, traded at 93.19 cents on the dollar to yield 3.57 percent on Aug. 1, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.

The new securities may be rated Aa1 by Moody’s Investors Service, the person said. Bank of America Corp., Citigroup Inc., and Credit Suisse Group AG are managing the offering for the company, which will sell the notes through its Total Capital International and Total Capital units. Proceeds will be used for general corporate purposes.

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